Big Pharma rakes in $215 billion a year in America — yet pays almost no taxes

Big Pharma rakes in $215 billion a year in America — yet pays almost no taxes

Posted By: Namaste
Date: Monday, 7-Aug-2023 11:07:49
http://www.rumormill.news/227192

https://www.businessinsider.com/big-pharma-companies-taxes-american-billion-dollar-profits-drugs-healthcare-2023-8?r=US&IR=T“…But take a look at the corporate disclosures of America’s largest pharmaceutical companies, and a puzzling hole opens. The six major US pharmaceutical firms that provide fairly detailed data reported making $215 billion worth of sales in the US for 2022. Given America’s systematically higher prices, their sales abroad were logically more modest — totaling $170 billion. Despite this discrepancy, the companies reported earning very, very little in profits — in some cases, absolutely nothing — in the US. Of their $100 billion combined profit, the companies said $90 billion was made abroad, while a paltry $10 billion came from their US operations. That comes out to a profit margin of 5% in the US and a margin of over 50% abroad. What’s going on?…”

https://www.rumormillnews.com/cgi-bin/forum.cgi?read=227192

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